need correct option A firm has common stock of $11,500, paid-in capital surplus of $15,000, totalliabilities of $28,100, current assets of $17,500, and fixed assets of $52,300. What isthe amount of shareholders' equity?$38,500$41,000O $41,700$23,600

To determine the amount of shareholders' equity, we need to use the accounting equation, which…

Answered: A firm has common stock of $11,500,…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter1: The Role Of Accounting In Business

Section: Chapter Questions

Problem 4SEQ: If total assets are $20,000 and total liabilities are $12,000, the amount of stockholders’ equity...

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A firm has common stock of $11,500, paid-in capital surplus of $15,000, total liabilities of $28,100, current assets of $17,500, and fixed assets of $52,300. What is the amount of shareholders' equity? $38,500 $41,000 O $41,700 $23,600